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Greek Socialists Fail To Reach Deal On Coalition

By

Stelios Bouras and

Alkman Granitsas

Updated May 11, 2012 4:36 p.m. ET

ATHENS—An end to Greece's political deadlock remained elusive for a fifth day Friday as hopes for a coalition government stumbled amid conflicting signals from two leftist parties that appear to hold the key to power and the country's future in the euro zone.

Following a day of talks with rival party leaders, Socialist party chief Evangelos Venizelos admitted defeat in forming a cross-party alliance. His counterparts from the conservative New Democracy and leftist Syriza parties also had failed earlier in the week.

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